Today we released the updated Retirement Income Simulator for the 2023-24 financial year. There were no changes to the underlying calculations, just parameter updates as follows:
- Co-contribution eligibility income threshold to $43,445
- SG minimum rate to 11.0% of salary
- SG maximum contributions base to $249,080
- Age pension means test and deeming thresholds
- Underlying indexed values of contribution caps and transfer balance cap
- Removal of minimum drawdown relief that had applied in earlier years
In addition, disclosure relating to these parameters was updated
Tags:
update